Current Westscheme director Simone McGurk has become the first member of the Westscheme board to join AustralianSuper, following the February announcement of a merger between the two funds.
McGurk, who replaces retiring AustralianSuper director Cath Bowtell, is also currently a Western Australian State Training Board member, the UnionsWA Secretary and a member of the Australian Council of Trade Unions executive.
AustralianSuper chair Elana Rubin said McGurk has a strong insight into the issues facing Australian workers and an affinity with the ‘members first’ philosophy of AustralianSuper.
“Simone was a member of the Westscheme Board that demonstrated its ‘members first’ philosophy when it sought a merger with AustralianSuper, knowing our size, expertise and products would provide a positive difference to their retirement outcomes,” Rubin said.
“Irrespective of the proposed merger with Westscheme, Simone is a high calibre appointment and one that reflects the growing geographic diversity of AustralianSuper.”
The appointment ensures the interests of West Australian members will be well represented and demonstrates AustralianSuper’s commitment to the successful finalisation of the merger, Rubin added.
The AustralianSuper board now comprises seven members from New South Wales, five from Victoria and one from Western Australia, the fund stated.
The Actuaries Institute has released a framework to help super funds deliver affordable guidance and advice to millions approaching retirement.
Labor’s finance minister has dismissed claims the government directs super fund investments after questions over Australia’s new US deal.
Australia’s average superannuation balance has climbed to a record high, with women’s savings share rising and reliance on the age pension falling.
APRA has softened several governance reform proposals following extensive consultation with banks, insurers, and super funds across Australia.